• Using this option user can define various payment terms and conditions. When cash / bank received entry is done and when it is mapped to a certain invoice it shows the receivable amount based on the payment term. In payment term one can specify For e.g.: What discount will be given if payment is received within 30 days, 60 days etc.

                                             

    1. Open an existing company following Open Company.
    2. Click "Master" from menu-bar & select Payment Term and following screen will appear.


                     


Code

Select the existing code from the picklist.

Code

Write the code.

Description

Write the description.

Calculation On

Select whether you want to calculate on 'Bill Date' or 'Due Date'.

Discount Days

Write days of discount.

Discount Method

Select the method for calculation of discount whether it should be 'None', 'Percentage' or 'Value'.

Discount percentage

Write the percentage for discount.

Discount Amount

Write the amount of discount.

Interest Days

Write the days of interest.

Interest percentage

Write the percentage of interest.

Disc. Slab Days (Before)

Write the slab days before discount.

Disc. Slab %age (Before)

Write the slab percentage before discount.

Disc. Slab Days (After)

Write the slab days after discount.

Disc. Slab %age (After)

Write the slab percentage after discount.

Flat Calculation Type

Enable if it is flat calculation.

Notes

Write the notes.

Status

Disable the status if you do not want in picklist.


    1. Edit the changes and click on 'Save' button.